488.303 No liability as limited partner for limited partnership obligations.
73 words·~1 min read·
/ia/chapter-488-uniform-limited-partnership-act/488-303·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An obligation of a limited partnership, whether arising in contract, tort, or otherwise, is not the obligation of a limited partner. A limited partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for an obligation of the limited partnership solely by reason of being a limited partner, even if the limited partner participates in the management and control of the limited partnership.
2004 Acts, ch 1021, §31, 118